They were mainly club Wembley until the final in 2017 when they were allocated to teams.That’s correct regarding Level 2. When the new Wembley opened in 2007 virtually all of Level 2 was sold as Club Wembley memberships to a combination of predominantly corporate clients along with a few wealthy private individuals. The memberships were for 10 years and covered pretty much all football at the stadium (England games, both domestic cup finals, FA Cup semi finals, playoff finals and Community Shield) as well as priority access to buying tickets for other events (NFL games, concerts etc). In the grand scheme of things, these were realistically priced and were a worthwhile purchase for someone with adequate disposable income. I’m guessing that was partly down to the FA needing a quick influx of cash to cover the spiralling costs of the stadium.
From memory though I’m happy to be corrected, Level 2 tickets weren’t part of club allocations for finals back then - I don’t recall them being available when we played Stoke and Wigan in the FA Cup or Sunderland in the League Cup final.
When the 10 year Club Wembley memberships came to an end in 2017, the prices for renewals were hiked by a lot and a considerable amount of members declined to renew. Since then those tickets have been sold on a match by match basis though the pricing definitely leaves a lot to be desired.
You could still buy them for the Stoke and Wigan finals via My Wembley, but they stopped new My Wembley members joining in April 2013 when it became common knowledge and a few thousand City dans joined.
The My Wembley ones used to be first dibs as extras for Club Wembley members but then sold to anyone at £150 or so for finals in those days on a seat only basis.